5 Ways to Reduce Cart Abandonment
Reducing cart abandonment is one of the foremost vital strategies you need to work out. Whether you are just starting out or if you are currently running a webshop. In this article, I’m going to point out five easy to implement conversion improvements you can implement within an hour. Fighting cart abandonment is highly profitable because statistics show rates of 70% and even up to 81% for most webshops. In other words: on average, a mere 30% of your visitors reach the checkout page. You don’t need to be a mathematician to understand these rates abandonment rates are incredibly high. These abandonment rates cause many webshop owners to through the towel in the ring, mainly if most of their visitors are acquired by advertising. Interestingly enough, mobile traffic accounts for over half of all traffic for eCommerce sites, yet mobile traffic has the highest abandonment rate. A Bizrate Insights mobile study of over 100,000 online shoppers uncovered, customers are annoyed at having to pinch and zoom to read the text and find the right place to places to click. Load times are slow, images are too small, product information is limited, and the list goes on In other words, most of the reasons your abandonment is so high are solvable without any technical knowledge. Your mobile readiness isn’t the only reason for high abandonment rates. There’s more. According to a statistia survey, the number one reason for abandoning carts are shipping rates. So let’s get to the five quick ways to reduce cart abandonment
#1 Optimise for mobile
Mobile shopping is increasing, yet many shops aren’t mobile-ready. Your site may be responsive, but when we talk about mobile-ready, we mean the mobile experience is as good as your desktop version. Your site should cater small screens meaning fewer links, fewer distractions such as related items or one of those ‘other people purchased’ blocks. You have to realise when people visit your store on a small screen their intent to purchase is arguably higher than desktop visitors. Prevent distraction and diminish any doubt they may have by showing alternative products. The check out needs to be quick and without distractions so also take a look at your pagespeed. Potential customers don’t like slow loading websites either.
#2 Make Registration Easy
Look at ways to improve your registration processes. Offer guests visitors to easily create an account with you and sign up for a newsletter. First name and email address are sufficient because once you have them in your database, you can build a relationship with your potential customers. You can read about how to build meaningful relationships with your visitors in our highly liked post, here.
Who doesn’t like a discount? Coupons or discounts work extremely well, but they can also cause harm to your business. Let me explain how. Nowadays, most webshop software solutions (Shopify, WooCommerce, Magento) offer the possibility to create coupons. Because they are easy to develop and implement most webshop owners create them. Great! If you are one these webshop owners – have these coupons declined your abandonment rates? When we asked our new clients what their coupon/discount strategy was, we rarely got an answer. Because a system offers the option to create coupons, it doesn’t mean you should create a bunch and toss them out to your customers. You need to be a little smarter than this. For coupons to become effective, you need some strategy in place, and then I would like to suggest signing up to Klaviyo. Klaviyo is a client data management system specifically designed for eCommerce businesses, and Klaviyo is the best tool to manage coupons based on your visitors’ behaviour. Let’s say a visitor is interested in Nike shoes. Would his/her cart abandonment decline if they see some site-wide coupon or discount for a non-related product such as a 10% discount on jackets? But what if we see, in real-time the visitor is interested in Nike shoes or a system that detects this individual has purchased Nike shoes in the past. Would a 5% discount on Nike shoes or free shipping when purchasing two pairs, decrease cart abandonment? It probably would, right? This is why we preach to our clients: Yes, offer discounts but make sure they are effective by targeting the right customer. To do that we use Klaviyo (get your free account here and test it with 250 clients).
#4 Optimise shipping fees
90% of cart abandoners run away when they see shipping fees. Your clients are well aware it costs money to ship products from your warehouse to their doorstep. But if you are compensating a low-price product strategy and trying to win revenue back by implementing high shipping rates, you are following a lousy policy. With Klaviyo installed we can implement a shipping fee strategy. First-time buyers get a shipping fee discount or free delivery if they purchase over a certain amount. We even offer free shipping for specific products you want to get rid off. Let’s say you have thousands of those in 2017 hyped fidget spinners in stock. One way to get rid of them is to offer free delivery if the client purchases three fidget spinners with the other products they’re ordering. Not only are you increasing your average order value, your fidget spinner inventory declines more rapidly, and your visitor gets free shipping. If that isn’t a win-win situation, what is? According to a study conducted by BizRate Insights you can see 94% of the respondents indicate that free shipping was significant. 77% claimed it was highly valuable. In other words – if you want to decline your abandonment rates figure out how to offer free shipping rates by adding a minimum spend but even better would be to increase your Average Order Value.
#5 Become personal – help your clients
We can’t stress this enough. People buy when they trust. They trust your store, your products, your pricing and your customer service. From the very moment, visitors create an account they need to know you are there and willing to help them out at any stage of their buying process. Your customer service doesn’t end as soon as the client has hit the purchase button either. Most shops stop offering live chat service during the checkout process. That irritating live chat service button vanishes on the checkout page because the store owner believes his visitors know how to checkout. We believe this is a huge mistake. Many potential clients could use your help during the checkout process because not all clients are as internet savvy as you may think. Reduce cart abandonment by sending out an email before they have even hit the purchase button, offering a personal checkout service are easy ways to decline abandonment. You could even add a button in the email by asking to take their order by phone. You can send cart abandonment emails, and you can remarket with social media and Google ads. There are so many things you can do to reduce cart abandonment, but in the end, it’s all developing a trust relationship with your clients and helping them to order with you. If you’re a brick & mortar store owner, you know exactly what I mean. People buy because they like you and trust you even if your prices are a little higher than the competition. With software such as Klaviyo, you can automate these processes which will help you offer splendid service for all of your potential clients. How cool is that?